Welcome to the Access IPOs Podcast, where host Craig Stephens explores opportunities to invest in the world's most innovative and disruptive pre-IPO companies. Monitor upcoming IPOs, the fastest-growing venture capital-backed startups, and the best ways for retail investors to participate in pre-IPO and IPO investing.
#79: Pre-IPO Liquidity with Augment CEO Noel Moldvai
Learn More about Augment (https://accessipos.com/AugmentYT)
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Craig is joined by Noel Moldvai, Co-Founder and CEO of Augment, a pre-IPO investing platform for accredited investors.
Augment empowers retail investors to buy and sell SPV shares of private companies on its Private Liquidity Network. The interview covers investment minimums, how the platform works, transparency, integrations, liquidity, and investment structure.
We also learn about Noel's experience working at Rubrik in the early stages of growth and lessons learned from its leadership. Born in Eastern Europe, Noel shares what he's learned from being an immigrant founder.
(0:00) Intro
(1:57) Welcome Noel
(2:25) Augment's Mission
(4:57) User Experience and Integrations
(7:59) Transparency
(8:58) Accessibility
(9:09) Liquidity
(11:04) Investment Structures
(12:38) Investment Selection
(14:21) Primary Investing Rounds
(15:28) Exit Distributions
(16:22) Roadmap Innovation
(16:54) Minimum Investment Amounts
(22:03) Pricing
(25:26) Private Liquidity Network
(28:13) Self-Directed IRAs
(29:24) Tokenization
(32:31) Noel's Background: Rubrik
(34:56) Rubrik Lessons Learned
(39:44) Immigrant Roots
(41:30) Canadian Rock Bands
(42:24) Thanks
(42:51) Opportunities
(44:21) IPO Pipeline
(46:16) Interview Feedback
Disclosures: At the time of recording, Augment is an advertising partner with the Access IPOs podcast, but Access IPOs is not paid for referrals. Access IPOs content is for informational purposes only, and the host does not recommend that investors buy or sell any stocks, funds, or private companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose, as IPO and pre-IPO investments inherently carry a high degree of risk, including the total loss of capital invested. Invest in IPOs and private companies at your own risk. The host may invest in upcoming IPOs mentioned in the show. His participation is not a recommendation or personalized financial advice. The host may be long startups mentioned on the show through SPVs, platform investments, or indirectly through pre-IPO funds. At the time of recording, the host has not invested in any private companies on the Augment platform.
26 Sept 2026
#78: Nscale IPO Preview — Is it Worth $35 Billion? Plus, the OURA IPO and AI Inference Startups
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Use Coupon Code *UP2026* to save (before Sept 30th)
Craig updates viewers on the upcoming OURA IPO. The company set terms this week and is planning a September 30th OURA IPO date. Coinbase will be a group selling member, offering IPO access to customers for the first time in its history.
Nscale filed for an IPO on September 18th and is targeting a $35 billion IPO valuation. But is contracted revenue a reliable metric on which to base the IPO valuation? Craig walks through the S-1 filing as we anticipate a mid-October Nscale IPO date.
In IPO Radar news, four AI inference startups are on FIRE: Baseten, Modal Labs, Fireworks AI, and Together AI.
(0:00) Intro
(0:54) OURA IPO Date and Terms
(1:55) OURA Shareholders
(3:17) OURA Valuation
(4:29) Coinbase OURA IPO
(5:19) Coinbase IPO Flipping Policy
(5:48) Sign up/Disclosures
(6:09) Best IPO Brokers
(6:54) Fall IPO Pipeline
(7:18) Nscale IPO Preview
(12:34) Nscale Contracted Revenue
(13:32) Nscale Financials
(15:47) Concentration Risk
(17:34) Big Questions
(20:10) IPO Radar News
(20:39) AI Inference Startups
(21:10) Baseten Valuation
(21:53) Modal Labs
(22:57) Fireworks AI
(24:30) Together AI
(25:05) OpenRouter
(26:07) What is AI Inference?
(27:34) Still Here?
Sponsor: VCX — The public ticker for private tech. Visit getvcx.com for more info
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Use Coupon Code UP2026 to save (before Sept 30th)
Join the Pre-IPO Course Waitlist (https://accessipos.com/Course)
Will the Anthropic IPO be delayed again? Craig doesn't think so.
The Anthropic IPO is still on track for the end of October. By disclosing the potential catastrophic risks, Anthropic lowers its securities fraud liabilities. Just one of the many benefits of going public!
Craig walks through the latest Anthropic IPO timeline as we countdown the days to the IPO.
In IPO Radar news, OpenAI's IPO is still planned for 2027 (after a brief head fake), and the company is considering raising new funds at a $1.2 trillion valuation. But will shares make it to the secondary platforms for retail investors to participate?
Plus, Motive has officially withdrawn its IPO filing after raising $1.3 billion from General Catalyst. And Travis Kalanick is getting back into robotaxis with his newly restructured company, ATOMS.
(0:00) Intro
(0:43) IPO Trio
(0:54) Oura Amended Filing
(1:24) Anthropic IPO Date
(3:05) AI Safety Concerns
(3:41) OpenAI Excuse
(4:23) Sponsored Message
(5:37) Should Anthropic Pause the IPO?
(6:23) Catastrophic AI Risk
(7:52) Benefits of Going Public
(9:23) #1 Anthropic On Nasdaq
(9:52) #2 NVIDIA Anchor Investor
(11:01) #3 Anthropic is Profitable?
(11:51) Disclosure
(13:01) IPO Radar News
(13:41) OpenAI IPO 2027
(14:16) OpenAI Funding Round
(16:02) Motive IPO Update and Raise
(17:45) Travis and ATOMS Robotaxis
(20:43) Outro Actions
Disclosures: At the time of recording, the host is long VCX and the Fundrise internet public offering (iPO). Access IPOs is an affiliate partner with Fundrise and Robinhood, and VCX is a paid sponsor of the Access IPOs podcast. At the time of recording, the host is also long RVI which owns a stake in Oura and OpenAI. VCX holds Anthropic and OpenAI. Access IPOs content is for informational purposes only and the host does not recommend that investors buy or sell any stocks, funds, or private companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose, as IPO and pre-IPO investments inherently carry a high degree of risk. Invest in IPOs and private companies at your own risk. The host may invest in upcoming IPOs mentioned in the show. His participation is not a recommendation or personalize financial advice.
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5.0 / 5
4 ratings
Spotify
5.0 / 5
11 ratings
Podcast Authority Score: 46 / 100
A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.
Quality
45
Social presence
0
YouTube
85
Engagement
32
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